There are two universal truths in today’s telecoms markets – competition drives down prices, and customers want more for less.
Increasing the customer lifetime value (CLV) of your subscriber base in a price-competitive market, especially one packed with price-conscious customers, is a tough balancing act. Like any balancing act it demands flexibility – but it also requires that you maximise your touchpoints to maintain contact and make the most of that flexibility.
This demands a strategic approach to your customer relationship management; an approach we believe centres on recognising and adopting the Seven Rules of Customer Engagement:
- Improve the experience
- Personalise communications
- Reduce pricing barriers
- Offer meaningful choice
- Target promotions
- Reward loyalty
- Encourage feedback
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